Germany Condor Loan – Fast & Easy Financing Solutions

Germany’s popular leisure airline, Condor, has made headlines in recent years due to its financial situation. This article delves into the complete story of Condor’s loan from the German government, exploring the reasons behind it and its impact on the airline’s future. Explore Germany Condor Loan options in Germany. Get fast and easy financing solutions to meet your financial needs.

Condor’s story begins in September 2019 when its then-parent company, Thomas Cook Group, declared bankruptcy. This sent shockwaves through the airline industry, leaving Condor’s future uncertain. To prevent immediate financial difficulties, the German government and the state of Hesse, where Condor is headquartered, stepped in with a €380 million bridging loan. This crucial lifeline allowed Condor to operate independently while seeking a new owner.

Understanding the Germany Condor Loan

Condor faced financial difficulties due to two significant events:

  • The Insolvency of Thomas Cook (2019): As a subsidiary of Thomas Cook, Condor’s future became uncertain after its parent company went bankrupt.
  • The COVID-19 Pandemic (2020): The global travel restrictions brought on by the pandemic severely impacted Condor’s operations.

The Breakdown of the Loans

  • Bridging Loan (2019):
  • Amount: €380 million (US$420 million)
  • Purpose: To bridge the financial gap caused by Thomas Cook’s insolvency and ensure Condor’s independence.
  • Repayment: Refinanced by the second loan (see below).
  • Corona Aid and Bridging Loan Refinancing (2020):

Amount: €550 million (US$597 million) consisting of:

  • €294 million – Corona aid to compensate for pandemic losses.
  • €256 million – Refinancing of the 2019 bridging loan.

Significance: Secured Condor’s continued operations despite the pandemic.

Coronavirus Crisis: A Second Loan for Survival (2020)

Just as Condor was navigating its newfound independence, the global COVID-19 pandemic struck in early 2020. The travel restrictions brought the airline industry to a standstill, significantly impacting Condor’s revenue streams. With flights grounded and passenger demand plummeting, Condor faced another financial hurdle.

Recognizing the airline’s strategic importance and its potential for recovery, the German government, along with the Hesse government, pledged further support. In April 2020, Condor secured a €550 million loan guaranteed by the federal government. This loan served a dual purpose:

  • €294 million: This portion addressed the immediate financial strain caused by the pandemic, providing much-needed relief during a critical time.
  • €256 million: This section refinanced the initial bridging loan obtained after Thomas Cook’s insolvency, consolidating Condor’s financial obligations.

The European Commission also approved this state aid, acknowledging Condor’s pre-pandemic financial health and its potential for future success.

The Road to Recovery: Condor’s Future

The German government’s loans provided Condor with a critical lifeline during challenging times. With the travel industry gradually recovering, Condor is focusing on rebuilding its operations and network. The airline is:

  • Resuming flights: As travel restrictions ease, Condor is restarting its flight routes, catering to popular leisure destinations.
  • Restructuring its fleet: Condor is optimizing its fleet size to adapt to the changing travel landscape and improve fuel efficiency.
  • Seeking new partnerships: Exploring strategic partnerships with other airlines could further strengthen Condor’s position in the market.


Why did Condor need a loan?

Condor required the first loan to maintain financial stability after its parent company’s insolvency. The second loan addressed the economic challenges caused by the COVID-19 pandemic.

How was the loan approved?

Both loans were guaranteed by the German government and the Hessian state government (where Condor is headquartered). The European Commission also needed to approve the loans to comply with EU state aid regulations.

Is Condor still flying?

Yes, thanks to the government loans, Condor continues to operate as a major German leisure airline.

What are the future prospects for Condor?

With financial stability secured, Condor is focusing on recovery and growth in the post-pandemic travel landscape.

What was the purpose of the 2020 loan?

The 2020 loan provided financial relief during the COVID-19 pandemic’s travel restrictions, allowing Condor to maintain operations and repay the previous bridging loan.

Is Condor still repaying the loans?

The specific repayment details are not publicly available, but the loan agreements likely include a repayment schedule.


Germany’s Condor loan serves as a case study of government intervention in times of crisis. The loan prevented Condor’s collapse and secured the jobs of thousands of employees. While the airline faces challenges on the road to recovery, the loan has provided vital breathing room and a chance for Condor to rebuild its business and reclaim its position as a leading German leisure airline.